Services Sector Contribution to GDP in Portugal (1990-2022)

Portugal's services sector steadily expanded its GDP share from the mid-1990s, growing from 58.5% in 1995 to 64.8% by 2008. This growth was fueled by structural reforms, EU integration, and an increasing focus on tourism and finance. The 2009 economic crisis led to a spike in the sector’s GDP share, reaching 66.9% in 2009 as Portugal pivoted towards services to offset declines in manufacturing and agriculture. Despite austerity measures and economic recovery challenges, services remained robust, stabilizing around 65% from 2015 onwards. The slight fluctuations between 65.2% and 66.4% through 2022 reflect adjustments in tourism, financial services, and digital advancements. By 2022, services contributed 66.1%, underscoring their critical role in Portugal’s economy as it modernizes and aligns with EU priorities.